Gold advances on stray buying; silver drops

Gold prices moved up further at the domestic bullion market today in a lacklustre trade amid mild local buying interest at the existing levels.
On the other hand, silver dropped owing to speculative selling as well as subdued industrial demand.
Standard gold of 99.5 per cent purity gained by Rs 10 to settle at Rs 29,315 per 10 gm from last Saturday's closing level of Rs 29,305.
Pure gold of 99.9 per cent purity also looked up by Rs 15 to close at Rs 29,455 per 10 gm, as against Rs 29,440.
Silver ready (.999 fineness), however, fell by Rs 85 to finish at Rs 55,150 per kg from Rs 55,235 last weekend.

Globally, yellow-metal was trading marginally higher in European trade after rebounding from its two-week low on expectations that the Federal Reserve will continue with monetary stimulus measures to prop up the US economy.
Spot gold was bid up at USD 1,577.60 an ounce in early trade, while spot silver was bid lower at USD 28.85 an ounce.